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Allied Gold Mining, the gold miner with significant interests in Papua New Guinea, says the government has confirmed two of its key licences in the country are "legally in good standing".
The written confirmation from the Mineral Resources Authority has come in response to reports that landowners may try to replace Allied as the 100% owner of the concessions.
The reports arose from comments by some provincial and island representatives although Allied is emphasising a public statement by landowners which last week offered "continued support" to the company.
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The stock has dropped 12% in the last 12 months and, in response to today's update, the shares have fallen 2% in early trading.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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